Green banks have a proven track record of mobilizing clean energy investments into communities. To date, these institutions have mobilized more than $5.4 billion of investment into clean energy projects that otherwise would not have been built. Many of these projects have prioritized expanding access to clean energy technology for low-income communities, and communities of color on the frontlines of the climate crisis. As national demand for Green Bank activity increases CGC recognizes both an opportunity and mandate to continue and deepen commitments to Environmental and Climate justice.
In February 2022, CGC announced its inaugural Environmental Justice Advisory Board. Formed under the recommendation of CGC’s Chief Consultant of Environmental Justice and Equity, William J. Barber III, and CGC Executive Director Jeff Schub, the inaugural board will work with the CGC team in developing a theory of change for BIPOC and LMI engagement consistent with deepening commitments to equity and energy justice.
Priorities for the Board include:
- Investigating alternate underwriting criteria and financial models that allow for enhanced deployment of clean energy tech to frontline communities;
- Identifying new metrics for program deployment that take into account equity considerations such as diversity in clean energy workforce development; alleviating energy burden for households, and expanding access to direct benefits associated with clean tech;
- Establishing an internal accountability structure to ensure CGC continues and strengthens its commitments to environmental justice;
- Engaging a broad network of organizations with track records of serving LMI/BIPOC/indigneous constituencies in frontline areas.